HOCKENHEIM, Germany, July 17, 2008 (AFP) - Highly-rated young German prodigy Sebastian Vettel will replace veteran Scot David Coulthard at Red Bull Racing next season, the Formula One team announced here on Thursday.

On the eve of his home German Grand Prix, Vettel beamed with pleasure as the news was confirmed and then declared himself entirely at ease with suggestions that he is ´the new Michael Schumacher´.

Coulthard announced at Silverstone two weeks ago that, aged 37, he had decided he would retire from racing in F1 at the end of the season. Vettel will take his place alongside Australian Mark Webber.

"You can imagine I´m very pleased and I´m very looking forward to next year," said Vettel, who is currently with Red Bull´s stable-mate team Toro Rosso. "It´s a step up - it has always been my target and obviously it´s a pleasure.

"I´ve been working with Red Bull for a very long time - since 2000 when I was go-karting - I could never imagine to race in F1. At that time they didn´t have an F1 team.

"Now, they have two and it is a dream to race for them. And obviously to drive for Red Bull Racing next year is another dream come true.

"Obviously, I´ve been part of the Red Bull family. I think that I´ve shown potential if you look at the development of the results in the last couple of years. My target is clear, I want to progress, to move forward, and I think I have the opportunity here so there was no doubt."

Vettel has scored points finishes at both the Monaco and Canadian Grands Prix this year.

On comparisons with Schumacher, he said: "You can´t say that what people say is in your mind. For me, I don´t care. I have my own target. Every single lap in every single race I want to do the best I can.

"If someone says you´re good, maybe you´re happy, but it doesn´t help you for the next lap. If they say you´re bad, if they have the right criteria and there´s a bit of truth, maybe you can learn.

"But in the end it´s important not to care too much what people say or you will lose your way."